As we continue to stumble through the lowest interest rates since the 1970′s due to the meltdown of our banking system and their practice of marketing mortgage backed securities several years ago we don’t want to miss the opportunities that exist right now.  Let’s put this in perspective.  Since 9172 the average interest rate has been 8.92%.  Right now you can get quoted an interest rate below 3% for some products.  That is less than half of what the interest rates have been on average.  It is true that you don’t live with the “price” of a home as much as you do live with the “payment” of the home.  The payment is the price plus the interest rate. When the interest rate is double the price then is considerably more.  That is why so many financial guru’s both in and out of the real estate industry are saying this is the best time to buy.

On the other side of this equation are the people who are still struggling with their mortgage and haven’t had any luck getting the banks to listen to your story.  Well this is changing too.  The government, through HAFA, will be assisting the banks and the homeowners to find a way to settle some of these issues.  Foreclosure, Short Sale, Deed in Lieu are the options.  The good news is that the the way that HAFA is being delivered through it’s banking partners has changed. There are time lines and accountability. There isn’t the wait and see situation now that has plagued this process for so long. The bank has a time line that it will follow in getting back to you.  The bank will assign a person to your loan and that is the person to whom you will be speaking.  A certified specialist (CHS) will be the point person between the owner and the bank and have an ability to push the process along it’s new path.  This is all GREAT NEWS for the homeowner, and I think great news for the Banks.  Continuing along the path of no formula, no accountability and no follow through has plagued this process since the beginning.  I am proud of attaining this specialty and look forward to helping anyone with answers to their questions regarding Modification, Short Sale, Deed in Lieu or other home loan situations.  As a specialist I will be able to share with you the process and the time lines for completion of the process.  Give me a call and let me help you.  Larry Lawfer 972-322-7776